An image pickup apparatus capable of preventing a decline of resolution of a still image while keeping a dynamic range of exposure control. The image pickup apparatus capable of photographing with changing over a moving image and a still image, includes an iris mechanism for changing an amount of light input to an image pickup element by changing an aperture diameter, a filter unit, having a single density or a plurality of densities, for changing the amount of the light input to the image pickup element by its advancing towards and withdrawing from the aperture diameter of the iris mechanism, a unit for driving the iris mechanism and the filter unit independently, and a control unit for setting the filter unit in one of two types of states such as fully covering the aperture diameter of the iris mechanism and fully withdrawing from the aperture diameter in the still image photography.